South Korea’s exports nearly double in October, fastest growth since 1974
South Korea’s exports nearly doubled in October, rising 93.7% from a year earlier to $115.28 billion, trade data released on Sunday, 1 November, showed. It was the sharpest annual increase in more than 50 years — the fastest since January 1974 — and the second-highest monthly export total on record, behind only September.
The surge was driven by semiconductors. Chip exports jumped 259.4% to $56.44 billion, passing $50 billion for a second month in a row, as global technology firms spent heavily on artificial intelligence and memory chip prices climbed. Computer exports rose 496.6% to $5.85 billion on demand for servers and data-centre equipment. Exports to the United States rose 185.8% to $24.9 billion, while exports to China climbed 133.6% to $26.98 billion.
Imports also grew strongly, up 36.0% to $72.78 billion, leaving a trade surplus of $42.5 billion — above $40 billion for a second straight month. Exports have now grown for 17 months in a row, and the January-to-October total reached $930 billion, up 60.6% from the same period last year.
Part of the jump reflects the calendar: October had 22 working days, two more than a year earlier, because of the timing of the Chuseok holidays. Even after adjusting for working days, though, average daily exports rose 76.1% to $5.24 billion, so the underlying boom is real.
Why it matters
South Korea is a bellwether for world trade, and its export figures are one of the clearest early reads on the global economy. The numbers show the artificial-intelligence spending boom is still accelerating, with chips now making up almost half of everything the country sells abroad. For Pakistan and other economies tied to global supply chains, strong Korean exports point to healthy demand in the world’s biggest markets — but also to how concentrated that demand has become in a single sector.
What happens next
The trade ministry expects South Korea to pass $1 trillion in annual exports for the first time ever in November, with only $70 billion left to reach the milestone. The next test is whether chip demand and prices hold up: November’s figures, due in early December, will show whether October was a peak or the start of an even bigger run.
This article is for general information and education only. It is not legal or financial advice.
Sources
- https://www.tradingview.com/news/reuters.com,2026:newsml_L2N46I001:0-south-korea-exports-nearly-double-in-october-strongest-growth-since-1974/ (Reuters via TradingView, 1 November 2026)
- https://en.sedaily.com/finance/2026/11/01/koreas-october-exports-surge-937-percent-as-1-trillion-year (Seoul Economic Daily, 1 November 2026)
- https://www.ajupress.com/view/20261101091670176 (Aju Press, 1 November 2026)
